Trina Solar (TSL) Beats With Record Revenues & Shipments, Sees Minimal Impact From Euro Concerns

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10:59:40 am on May 25, 2010

Trina Solar (TSL) reported record revenues and shipments this morning, beating analyst estimates in the process despite a $14 million forex hit.  The company posted and EPS of .66 on revenues of $336.8 million, which was better than the analyst estimates of .61 and $328 million respectively.  That’s good for a 155% jump in revenues over the year ago quarter as shipments rose to 193MW.  That’s a record for shipments and above their previous guidance. 

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Looking ahead, the company expects another record quarter for shipments this quarter, predicting 200 – 205MW and 750 – 800MW for the full year which would be a 88 – 100% increase over 2009 levels.

Highlights of comments made by CEO Jifan Gao:

– launched the high efficiency square cell technology, a nicer looking black module for the home market, and a high wattage module line for the commercial side during the quarter
– still seeing strong demand for products despite European concerns and continues to hedge against falling Euro

Despite the strong report, shares of TSL are getting hit today on overall market weakness and down about 6%.  In my opinion, the pull back offers an opportunity and I’m looking for an entry point this week.

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